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TO: Mayor Robert J. O'Connor
FROM: Stephen K. Andras, P.E. CFM, Assistant City Engineer
DATE: December 12th, 2016
SUBJECT:
A Resolution for Acceptance of Improvements and Maintenance Security for Advocate / Dreyer Medical Center - 2285 Sequoia Dr. and the release of the $500,000 additional security associated with the applicant's former property located at 1870 West Galena Blvd., Aurora, IL. 60506 - 13.519
PURPOSE:
To accept the Public Improvements and Maintenance Security for Advocate / Dreyer Medical Center - 2285 Sequoia Dr and release the $500,000 additional security associated with the applicant's former property located at 1870 West Galena Blvd., Aurora, IL. 60506.
BACKGROUND:
This development has completed all installations, inspections and submissions of the public improvements that make it eligible to be recommended for final acceptance of those improvements, including requirements associated with a "Building Permit Fee Rebate Agreement". The requirements of the agreement required the posting of an additional $500,000.00 to this project's security as a guarantee of City approved disposition of the applicant's former property located at 1870 West Galena Blvd., Aurora, IL. 60506.The sale of the former property by the developer, to the West Aurora School District for redevelopment has acted to satisfy the property's disposition with the City and allows the release of said $500,000.00 additional security.
DISCUSSION:
The Subdivision Control Ordinance, upon the acceptance of the improvements by City Council, requires the posting of a security for a one year maintenance period.
IMPACT STATEMENT:
This action may add new public infrastructure /utilities to various divisions for maintenance, including streets, water, storm, sanitary, electrical, storm water management, fiber optic.
RECOMMENDATIONS:
Approve the acceptance of Improvements and Maintenance Security for Advocate / Dreyer Medical Center - 2285 Sequoia Dr and the release of the $500,000 add...
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